By Rafiq Raji, PhD
Twitter: @DrRafiqRaji, @macroafrica
Global Markets
- Asia stock rush pauses, bonds rally on sober Fed
- Ex-Asia stocks pause after 10-session winning streak
- Fed cautious on economy, ready to take further action
- Bonds rally as Fed mulls yield curve control, guidance
- Dollar near 3-mth lows on dovish outlook
Oil Markets
- Oil prices slide on concerns about patchy demand recovery, record US stocks
- Brent down 2.0% at $40.88 a barrel (0031GMT)
- WTI down 2.2% at $38.74 a barrel
Precious metals
- Gold hits over 1-wk high on gloomy US Fed outlook
- Spot gold down 0.2% at $1,732.56/oz. (0114GMT)
- US gold futures up 1.2% at $1,741.90/oz.
Grains
- Chicago soybeans trade near 2-mth peak on strong China demand
- Soybean futures down 0.1% at $8.64-1/4 a bushel (0142GMT)
- Corn up 0.1% at $3.26-1/2 a bushel
- Wheat up 0.2% at $5.07-1/4 a bushel
Key African events or data releases today
[Posts & comments at my Twitter handles @DrRafiqRaji, @macroafrica]
- Kenya, Uganda & Tanzania finance ministers present 2020/21 budgets
- Nigeria Senate expected to pass amended $30 billion 2020 budget
- Burundi’s fragile presidential transition in focus
- Statistics South Africa releases mining & manufacturing data for March & April
- Nigeria MPs conduct public hearing on contentious health bill
- South Africa SACCI business confidence May-20 [prev. 77.8]
- Key African countries on lockdown or restricted; subdued economic activity
- Covid-19 updates by authorities across the continent
Key African events or data releases yesterday & early a.m today
- Ugandans melt plastic waste into coronavirus face shields
- Pompeo welcomes agreement for UN Libya talks, urges speedy ceasefire
- Nigeria minister calls for action on ‘alarming’ increase in rapes during coronavirus lockdown
- Mali 2019 gold mining revenue boosted by strong output, prices
- WHO hopes to work with US on ebola despite Trump criticism
- Nigeria’s House send 10.8 trillion naira budget to Senate
- UN Libya mission says warring sides have engaged in truce talks
- Libya’s GNA & LNA engage in UN-supported 5+5 joint military commission talks – tweet
- Morocco MPs rap virus lockdown extension, saying people “exhausted”
- Nigeria 5-yr naira futures sink to 578 on dollar shortage
- Nigeria’s House of Representative passes 10.8 tln naira budget based on $28/bbl oil
- Egypt presidency says Trump welcomed Egypt’s proposal for Libya ceasefire in a call with President Sisi – statement
- South Africa rand gains as dollar weakens ahead of Fed
- Africa Oil – Nigeria to cut output by mid-July, HPCL issues tenders
- Bandits kill at least 20 in northwest Nigeria’s Katsina state, say police
- AfDB VP resigns, says unrelated to whistleblower probe
- Zimbabwe president says currency under attack as prices spiral
- South Africa Implats chairman to retire in October
- Turkey dismisses Egypt proposal for Libya ceasefire – Hurriyet
- Eni says situation at Libya’s Mellitah has returned to normal
- Should we remove statues of Congo’s coloniser king, Belgium councillor asks
- Paris Club debt freeze reaches $1.1 bln as Ethiopia, Pakistan get relief
- Toppled statue of English slave trader to be moved to a museum
- South Africa insurer Sanlam cautious about new business growth on recession worries
- Burundi begins official mourning of President Nkurunziza
- Ethiopia extends PM & lawmakers’ terms, to hold polls within a year
- South Africa pay-TV firm MultiChoice reports first full-year profit
- Hairdressers go underground as lockdown drags on in South Africa
- Uganda shilling little-changed but may weaken on importer demand
- Egypt headline inflation slowed to 4.7% in May – CAPMAS
- Nigeria to reach OPEC+ compliance by mid-July
- Zambia tackles ‘deliberate’ undervaluation of mineral exports
- South Africa mall operator Hyprop says seeing pick up in rent collections
- Libya’s NOC says output shut down at El Feel oilfield
- South Africa business confidence hits record low as lockdown batters economy – survey
- South Africa – Platinum processing continues at Amplats plant despite repairs
- ArcelorMittal South Africa fined over hydrogen sulfide emissions
- Battling Somalia’s epidemic, a grieving British doctor finds peace
- Moody’s downgrades South Africa’s Land Bank deeper into ‘junk’
- Kenya shilling weakens as easing lockdown restrictions boosts demand
- South Africa Ascendis Health’s CFO resigns
N.B. Full stories of above headlines are available on Reuters